Intercorp Financial Services (NYSE:IFS) Shares Up 6.6% Following Strong Earnings

Shares of Intercorp Financial Services Inc. (NYSE:IFS) rose 6.6% during mid-day trading on Thursday following a better than expected earnings announcement. The company traded as high as $32.80 and last traded at $33.12. Approximately 99,229 shares changed hands during trading, a decline of 38% from the average daily volume of 160,315 shares. The stock had previously closed at $31.06.

The company reported $1.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.94 by $0.19. Intercorp Financial Services had a return on equity of 10.67% and a net margin of 18.00%.

Insider Activity at Intercorp Financial Services

In related news, major shareholder Peru Ltd Intercorp acquired 574,071 shares of the firm’s stock in a transaction on Thursday, December 26th. The shares were acquired at an average cost of $19.79 per share, for a total transaction of $11,360,865.09. Following the completion of the transaction, the insider now directly owns 2,470,230 shares in the company, valued at approximately $48,885,851.70. This trade represents a 30.28 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Hedge Funds Weigh In On Intercorp Financial Services

Large investors have recently modified their holdings of the stock. Jane Street Group LLC bought a new stake in Intercorp Financial Services in the third quarter worth $447,000. Principal Financial Group Inc. lifted its holdings in shares of Intercorp Financial Services by 351.5% in the 3rd quarter. Principal Financial Group Inc. now owns 231,269 shares of the company’s stock worth $6,043,000 after acquiring an additional 180,043 shares during the last quarter. Helikon Investments Ltd lifted its holdings in shares of Intercorp Financial Services by 24.8% in the 3rd quarter. Helikon Investments Ltd now owns 974,819 shares of the company’s stock worth $25,472,000 after acquiring an additional 193,474 shares during the last quarter. Citigroup Inc. boosted its stake in shares of Intercorp Financial Services by 466.7% during the 3rd quarter. Citigroup Inc. now owns 213,392 shares of the company’s stock worth $5,591,000 after purchasing an additional 175,734 shares during the period. Finally, State Street Corp grew its holdings in Intercorp Financial Services by 13.3% during the 3rd quarter. State Street Corp now owns 143,413 shares of the company’s stock valued at $3,747,000 after purchasing an additional 16,793 shares during the last quarter.

Intercorp Financial Services Trading Up 6.9 %

The company has a market capitalization of $3.80 billion, a PE ratio of 13.03, a price-to-earnings-growth ratio of 0.27 and a beta of 1.26. The stock’s 50-day moving average is $29.14 and its two-hundred day moving average is $26.74.

Intercorp Financial Services Company Profile

Intercorp Financial Services Inc, together with its subsidiaries, offers banking, insurance, wealth management, and payment services for retail and commercial clients in Peru. The company provides loans, credit facilities, deposits, and current accounts; life annuity products with single-premium payment and conventional life insurance products, as well as other retail insurance products; and brokerage and investment management services.